Healthcare Industry News: Incyte
News Release - November 17, 2009
XOMA Appoints Jim Neal Vice President of Business DevelopmentBERKELEY, Calif., Nov. 17--(HSMN NewsFeed) -- XOMA Ltd. (Nasdaq:XOMA ), a leader in the discovery and development of therapeutic antibodies, today announced that James R. Neal has joined the company as Vice President, Business Development. Mr. Neal will oversee XOMA's business development strategy and lead the team to execute key licensing initiatives to build and support XOMA's proprietary therapeutic pipeline and biodefense programs, to market the company's antibody technologies and to assess commercial opportunities and develop product candidates commercially.
"We continue to increase the strength of our management team in order to capitalize on the value of our antibody technologies, product candidates and expertise. Jim is a seasoned executive with extensive experience in forging successful partnerships with pharmaceutical companies and government institutions. This experience will be key for our product candidates like XOMA 052, new antibody collaborations and our biodefense programs," said Steven Engle, Chairman and Chief Executive Officer of XOMA.
Mr. Neal brings more than 25 years' experience forming and maximizing valuable business and technology collaborations globally and in bringing novel products and technologies to market. Most recently, Mr. Neal was Acting Chief Executive Officer of Entelos, Inc., a leading $22 million biosimulation company, where he was responsible for multi-million dollar partnerships with companies including Eli Lilly and GlaxoSmithKline. Previously, in 2007, Entelos acquired Iconix Biosciences, a privately held company where Mr. Neal served as Chief Executive Officer and established multi-year collaborations with Bristol-Myers Squibb, Abbott Labs, Eli Lilly and the U.S. Food and Drug Administration. While Executive Vice President of Incyte Genomics from 1999 to 2002, he led the global commercial activities with pharmaceutical company collaborators and partners including Pfizer, Aventis and Schering-Plough, as well as sales, marketing and business development activities for the company. From 1982 to 1999, he was associated with Monsanto Company in positions of increasing responsibility, most recently as General Manager of the Solaris Group, a $400 million division with earnings over $100 million.
Mr. Neal earned his Bachelor of Science in Biology and his Master of Science in Genetics and Plant Breeding from the University of Manitoba, Canada, and holds an Executive MBA degree from Washington University in St. Louis, Missouri.
XOMA discovers, develops and manufactures novel antibody therapeutics for its own proprietary pipeline as well as through license and collaborative agreements with pharmaceutical and biotechnology companies, and under its contracts with the U.S. government. The company's proprietary product pipeline includes:
* XOMA 052, an anti-IL-1 beta antibody in Phase 2 clinical development for Type 2 diabetes, Type 1 diabetes and cardiovascular disease, with potential for the treatment of a wide range of inflammatory conditions
* XOMA 3AB, an antibody candidate in pre-IND studies to neutralize the botulinum toxin, among the most deadly potential bioterror threats, under development through funding provided by the National Institutes of Allergy and Infectious Diseases of the National Institutes of Health
* A preclinical pipeline with candidates in development for inflammatory, autoimmune and oncologic diseases
In addition to its proprietary pipeline, XOMA develops products with premier pharmaceutical companies including Novartis AG, Merck & Co., Inc. and Takeda Pharmaceutical Company Limited.
XOMA has multiple revenue streams resulting from the licensing of its antibody technologies, product royalties, development collaborations and biodefense contracts. XOMA's technologies have contributed to the success of marketed antibody products, including LUCENTIS(R) (ranibizumab injection) for wet age-related macular degeneration and CIMZIA(R) (certolizumab pegol) for rheumatoid arthritis and Crohn's disease.
The company has a premier antibody discovery and development platform that incorporates an unmatched collection of antibody phage display libraries and proprietary Human Engineering(TM), affinity maturation, Bacterial Cell Expression (BCE) and manufacturing technologies. BCE is a key breakthrough biotechnology for the discovery and manufacturing of antibodies and other proteins. As a result, more than 50 pharmaceutical and biotechnology companies have signed BCE licenses, and several licensed product candidates are in clinical development.
XOMA has a fully integrated product development infrastructure, extending from pre-clinical science to approval, and a team of about 200 employees at its Berkeley, California location. For more information, please visit http://www.xoma.com.
Certain statements contained herein concerning product development or that otherwise relate to future periods are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions that may not prove accurate. Actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry and for companies engaged in the development of new products in a regulated market.
These risks, including those related to inability to comply with NASDAQ's continued listing requirements, the declining and generally unstable nature of current economic conditions; the results of discovery and pre-clinical testing; the timing or results of pending and future clinical trials (including the design and progress of clinical trials; safety and efficacy of the products being tested; action, inaction or delay by the FDA, European or other regulators or their advisory bodies; and analysis or interpretation by, or submission to, these entities or others of scientific data); changes in the status of existing collaborative relationships; the ability of collaborators and other partners to meet their obligations; XOMA's ability to meet the demands of the United States government agency with which it has entered into its government contracts; competition; market demands for products; scale-up and marketing capabilities; availability of additional licensing or collaboration opportunities; international operations; share price volatility; XOMA's financing needs and opportunities; uncertainties regarding the status of biotechnology patents; uncertainties as to the costs of protecting intellectual property; and risks associated with XOMA's status as a Bermuda company, are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings. Consider such risks carefully when considering XOMA's prospects.
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